Advanced Search
MyIDEAS: Login

Exchange Rate Intervention, Market Efficiency and Asset Market Returns: The Greek Experience

Contents:

Author Info

  • Dionysios Chionis

    (Democritus University of Thrace, Department of International Economic Relations and Development, Komotini, Greece)

  • Panagiotis Liargovas

    (University of Peloponnese, Department of Economics, Terma Karaiskaki Street, Tripolis 22 100, Greece and Hellenic Open University)

Abstract

Ôhis paper investigates the implications of exchange rate intervention on the forward market and on the asset returns in Greece during the ‘hard’ greek drachma period 1987-98, when the Central Bank of Greece frequently intervened. We examine the efficiency of the forward exchange market because Since the it influences the intervention effects on both the mean and the variance of the exchange rate.depends on the efficiency of the market we examine the efficiency of the forward exchange market In addition, by applying the causality in variance test between exchange rates and stock returns, this workwe examines the credibility of the signals provided by the Central Bank of Greece by applying the causality in variance test between exchange rates and stock returns.

Download Info

To our knowledge, this item is not available for download. To find whether it is available, there are three options:
1. Check below under "Related research" whether another version of this item is available online.
2. Check on the provider's web page whether it is in fact available.
3. Perform a search for a similarly titled item that would be available.

Bibliographic Info

Article provided by Cyprus Economic Society and University of Cyprus in its journal Ekonomia.

Volume (Year): 7 (2004)
Issue (Month): 1 (Summer)
Pages: 42-55

as in new window
Handle: RePEc:ekn:ekonom:v:7:y:2004:i:1:p:42-55

Contact details of provider:
Web page: http://www.ekonomia.ucy.ac.cy/
More information through EDIRC

Related research

Keywords:

Find related papers by JEL classification:

References

No references listed on IDEAS
You can help add them by filling out this form.

Citations

Lists

This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

Statistics

Access and download statistics

Corrections

When requesting a correction, please mention this item's handle: RePEc:ekn:ekonom:v:7:y:2004:i:1:p:42-55. See general information about how to correct material in RePEc.

For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Managing Editor).

If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

If references are entirely missing, you can add them using this form.

If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

Please note that corrections may take a couple of weeks to filter through the various RePEc services.